All Forum Posts by: Sean Julian

@Evan Polaski

Thank you! I see this going one of three ways. 1) My contractor gives me an estimate that breaks everything out. 2) I actually get a hold of another contractor or two and I can use the leverage to get someone to do the work. 3.) I hire individual specialties and get this project done and tenant moved in. Definitely would prefer number 1 but I’m not here to lose money on the first deal, so any of the three are options.

@Greg Dickerson copy that!

@Brian Gerlach ok thanks!

@Frank Hinck

Thank you. There’s no loan but you may be right. I have requests into 4 other GC’s that I’ll follow up with on Monday. If he’s too busy, just say so, and I’ll move on. One more step in the learning section. I appreciate the feedback.

My contractor says all the right things but I can't get him to give me a timeline or cost breakdown. This is a BRRRR with a potential tenant already lined up. Is there a way you've dealt with this that didn't end up in finding a different contractor. I realize it's business not personal but he comes recommended and I'd hate to give up too easily. Thanks all!

Do we need a CPA in the state we invest or can my local CPA take care of me legally?

Oh good. Obviously I’m not so good at this Texas game. I’m glad you’re finding success. 

I tried to do rentals but house prices were too expensive and taxes too much so I went North to Indiana. Hope you have much better success wholesaling than I had but and hold. 

@Billy Daniel

I can’t swing by...too many states between, but I’ll see if my realtor and/or property can check in on him. Thanks for the advice!

I’ve been wanting to invest for about 5 years. In that time we’ve had two more kids. I’ve changed job locations twice (commuted, didn’t change homes). I bought a plane to help with the commute (since sold it). What finally got me to get off my tail was COVID. My job isn’t as secure as I thought. Our savings account(s) aren’t doing anything for us. My stock market investing is lackluster. So, while sitting at home raising 4 kids instead of working (don’t worry, job kept paying me thanks to all tax payers by way of the Federal Government) I started listing to audio books while driving for DoorDash. I made a financial statement for my wife. I showed her what we had and what that money was doing. It didn’t take long for her to see the same thing as me...our money wasn’t doing anything for us. So, she approved moving into real estate.

I tried to look local but the taxes are just too high. I went on http://roofstock.com and found a place. I put in a bid and didn't get the place. But, it showed me an area I could invest in and make money. I took the advice in the books and started asking for referrals. A few days later I found a rock star real estate agent. I think I have a great PM lined up (won't know until she's put to the test with my property but phone calls and emails are all positive). I've found a contractor that says the right things (again won't know until the rehab is done). The last person in my team will be the loan officer and I have a couple of companies that may work (It's a BRRRR). I have a pre-approval letter so I could make sure I was as credit worthy as I thought.

Hoping this is the first of many real estate deals as I secure my financial future. Just 7 days until closing!